PRINCETON, Ind. (WEHT) – Following an announcement to modernize its plant in 2017, Toyota Indiana (TMMI) announced Friday that 150 new jobs are being added and an additional $700 million is being invested to complete its $1.3 billion plan.

In total, the plan added 550 new jobs.

The $1.3 billion investment was used for retooling, installing new equipment, and on advanced manufacturing technologies in order to meet demand for the new 2020 Toyota Highlander.

The plant has the capacity to assemble more than 420,000 vehicles annually.

Toyota is also committing $1 million a new, regional workforce program designed to connect students with career opportunities in advanced manufacturing while they’re still in high school.

“This program will allow students to get a jump start on their careers while receiving hands-on training with industry experts and educators,” said Leah Curry, Toyota Indiana plant president. “By collaborating with our local schools, we are creating a workforce solution—but, more importantly—providing greater visibility to student career options and pathways in the region.”

Toyota also announced that Princeton will cease production of the Toyota Sequoia by 2022, in order to focus on the Toyota Highlander, Highlander Hybrid, and the Toyota Sienna.